Ryder Company had a current share price of $65, and the firm had 800,000 shares of stock outstanding. The company is considering an investment project that requires an immediate $12,000,000 investment but will produce cash flows of $3,500,000, $4,200,000, $5,100,000, and $6,200,000 in years 1 to 4, respectively. The aftertax salvage value when the project closes is $500,000. If Ryder Company invests in the project, what would the new share price be? Ryder Company's cost of capital is 8.6%. (Hint: consider how the project NPV affects the stock price)

		$63.73
		$65.39
		$69.48
		$71.80
		$75.49